Japanese Automakers Preparing for EV Expansion

Honda producing EVs in China and North America, Nissan in the UK and the U.S., and Suzuki in India



GAC Honda's new EV model「e:NP1」
Launched in China in June 2022
(Source: Honda Motor (China) Investment)

  This report focuses on the announcements made by Japanese OEMs in the first half of 2022 and the status of development, production, and other systems being established by seven Japanese OEMs in preparation for the expansion of EVs (electric vehicles).

  As for production and sales plans for 2030, Toyota Motor Corporation aims to sell 3.5 million EVs, Honda Motor Co., Ltd. aims to produce more than 2 million EVs, and Nissan Motor Co., Ltd. aims to achieve an electric vehicle ratio (including e-POWER vehicles) of 50% or more. Mazda Motor Corporation expects that its EV production ratio will be 25%, but is reportedly considering a review of that target.

  As for production systems, Subaru Corporation will install an EV production line at one of its own plants in Japan to start production by 2025, and is also considering another separate line dedicated to EVs.

  Overseas, Toyota will produce Li-ion batteries in the U.S. starting in 2025, Honda has two joint ventures in China that are building plants dedicated to EVs and will begin production in 2024, and Honda also plans to have an EV-dedicated line in North America. Nissan plans to produce EVs in the UK and the U.S. Suzuki Motor Corporation will build production facilities for EVs and batteries in India, and will start production of EVs in 2025 and batteries in 2026.

  All-solid-state batteries are currently under development by Toyota, Honda, and Nissan. Toyota will begin using them in HEVs (hybrid electric vehicles) in the first half of the 2020s, Honda will install them in models to be introduced in the latter half of the 2020s, and Nissan will adopt them starting in 2028.

Related Reports:
Japanese OEMs’ Financial Results: Profit structure improvement, dealing with rising costs (Jun. 2022)
Toyota's BEV Strategy: Plans for 3.5 million BEVs, including 1 million Lexus by 2030 (May. 2022)
Honda: EV Alliance with Sony, Level 4 Autonomous Driving Trials with GM (Mar. 2022)
Renault-Nissan-Mitsubishi Alliance: Mid-term Plan Progress, Accelerating Electrification (Part 1) (Dec. 2021)
Mazda: Introducing dedicated EV platform in 2025, aiming for 25% EVs in 2030 (Sep. 2021)
Japanese OEMs announce and update policies for electrification and carbon neutrality (Jun. 2021)

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